PMC-Sierra Cuts Q3 Business Outlook

PMC-Sierra announced new financial guidance, saying it now expects Q3 revenue to be $71 million to $73 million compared with reported second quarter revenues of $85.7 million. The company's previous outlook was for Q3 revenues to be in the range of $86 million to $92 million, or flat to up 7%.



PMC-Sierra said the cut in Q3 revenue outlook was "primarily attributable to changes in customer demand and inventory levels associated with recent reductions in the planned deployment rates of DSL equipment by Asian service providers for the second half of 2004. Also, generally improved availability of semiconductor components is causing a reduction in semiconductor orders below the consumption rates available in end markets served. "http://investor.pmc-sierra.com